I have often been asked as a Albany Divorce Lawyer if winning personal injury settlement money is considered joint marital property. In New York, a personal injury settlement is considered separate property, which means it is not marital and is not subject to equitable distribution. I advise clients as a Albany Divorce Lawyer that you want to make sure that you do not commingle those funds in an account held jointly with your spouse. If you do that, it is possible that the court will render that as marital property and it will be subject to equitable distribution.

If you have questions about joint marital property in New York, contact our experienced Albany Divorce Lawyer.

This informational blog post was provided by Ashley Mahserjian, an experienced Albany Divorce Lawyer.

Jean Mahserjian, Esq.

Attorney Albany Law School at Union University, New York State Bar

Jean M. Mahserjian, Esq., is a New York family law and divorce attorney in Albany, Saratoga, and the surrounding areas. For more than 20 years, Jean has maintained her capital region law firm, located on Route 9 in Clifton Park, New York.

The practice encompasses all areas of family and matrimonial law, an online uncontested divorce service and various areas of estate planning.

Areas of Expertise: New York Divorce, Separation, Child Custody, Child Support, Spousal Support, Property Distribution, Post Divorce Issues, Real Estate Closings, Sale of Marital Real Estate, Preparation of Qualified Domestic Relations Orders, Dividing Retirement Assets

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Albany Divorce Lawyer Explains if Winning a Settlement is Joint Marital Property?

Jean Mahserjian, Esq.

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